Financial Performance - Total revenue for the first half of 2024 decreased by approximately 66.7% to THB 66.5 million from THB 199.4 million in the same period of 2023[17] - Gross profit for the first half of 2024 was approximately THB 16.5 million, representing a gross margin of 24.9%, compared to THB 40.3 million and a gross margin of 20.2% in the prior year[17] - Net profit for the first half of 2024 was approximately THB 1.2 million, compared to THB 0.9 million in the same period of 2023[17] - For the six months ended June 30, 2024, the company's revenue was THB 66,454,000, a decrease of 66.7% compared to THB 199,373,000 for the same period in 2023[50] - Gross profit for the same period was THB 16,523,000, down 59.1% from THB 40,311,000 year-over-year[50] - The company reported a net profit attributable to shareholders of THB 1,201,000, an increase of 33.7% from THB 898,000 in the previous year[50] - Basic and diluted earnings per share for the period were THB 0.20, compared to THB 0.22 in the same period last year[50] Income and Expenses - Other income increased by approximately THB 17.8 million to THB 35.9 million in the first half of 2024, primarily due to foreign exchange gains and fair value gains on financial assets[17] - Administrative expenses decreased by approximately 14.1% or THB 3.9 million to THB 24.0 million in the first half of 2024, mainly due to reduced employee costs[17] - Financial costs for the first half of 2024 were approximately THB 23.0 million, a decrease of THB 1.1 million compared to the previous year[17] Assets and Liabilities - As of June 30, 2024, the group's current assets increased to approximately 986.4 million THB from about 934.3 million THB as of December 31, 2023, primarily due to an increase in trade receivables by approximately 92.5 million THB[19] - Current liabilities rose to approximately 725.1 million THB as of June 30, 2024, up from about 682.3 million THB on December 31, 2023, mainly due to an increase in trade payables related to customer F's ATM project[20] - Non-current assets decreased to approximately 557.0 million THB as of June 30, 2024, from about 699.9 million THB as of December 31, 2023, primarily due to a reduction in non-current trade receivables from customer F's ATM project by approximately 108.9 million THB[20] - The group's cash and cash equivalents decreased to approximately 7.2 million THB as of June 30, 2024, down from about 12.6 million THB as of December 31, 2023, mainly due to the repayment of due loans[21] - The group's debt-to-equity ratio improved to approximately 79.7% as of June 30, 2024, compared to 86.9% as of December 31, 2023[21] Shareholder Information - The company raised approximately 20.0 million HKD from a rights issue completed on September 14, 2023, with a net amount of about 19.0 million HKD after expenses[23] - Major shareholders Pynk and Ms. Talomsin each hold 102,000,000 shares, representing 17% ownership before the placement[37] - Following the placement, the ownership percentage of Pynk and its beneficial owners has been diluted to 15%[37] - The company completed a placement of 80,000,000 shares at a price of HKD 0.375 per share, representing an approximate discount of 18.48% to the closing price of HKD 0.46 on the placement agreement date[32] - The total proceeds from the placement amounted to HKD 30 million, with a net amount of approximately HKD 28.8 million after deducting issuance expenses, resulting in a net issuance price of about HKD 0.360 per share[33] - The net proceeds from the placement are intended for general working capital and are expected to be fully utilized by the second half of 2025[33] Governance and Compliance - The company has established an audit committee responsible for reviewing and supervising financial reporting processes[47] - The board of directors confirmed compliance with the corporate governance code, except for the separation of the roles of chairman and CEO[48] - The company has adopted a securities trading code that complies with the standards set forth in the listing rules[45] - The company is independent of any major shareholders or directors as defined by the listing rules[110] - The company is subject to the regulations of the Securities and Futures Commission of Hong Kong[110] Operational Insights - The company aims to secure new projects to drive growth, particularly in government-related sectors[16] - The company has a strong focus on expanding its client base in rural Thailand through ATM and cash deposit machine projects[15] - The company operates primarily in Thailand, focusing on IT integration solutions and support services[59] - The company has ongoing projects with a state-owned bank, including the establishment of 2,900 ATMs and 790 passbook machines between 2020 and 2025[108] Market Conditions - The Thai economy is projected to grow by 1.9% in 2023 and 2.4% in 2024, which may positively impact the company's business environment[16] - The company remains confident in its long-term prospects despite geopolitical risks and market fluctuations[16] - The company faces limited foreign exchange risk as its operations are primarily in Thailand, with revenues mainly in Thai Baht[34] Employee and Labor Costs - The group had 57 employees as of June 30, 2024, with labor costs amounting to approximately 20.7 million THB, representing 31.1% of the group's revenue for the six months ended June 30, 2024[29] - The total remuneration for key management personnel for the six months ended June 30, 2024, was 7,759,000 THB, a decrease from 9,031,000 THB in the same period of 2023[105] - The company's short-term employee benefits for the six months ended June 30, 2024, were 7,073,000 THB, compared to 8,361,000 THB in the previous year[105] Other Information - The company did not declare an interim dividend for the six months ended June 30, 2024[35] - There were no purchases, sales, or redemptions of the company's listed securities by the company or any of its subsidiaries during the six months ended June 30, 2024[36] - The company has not disclosed any new products or technologies in the current report[39] - There are no significant mergers or acquisitions reported in the current period[39]
PLATT NERA(01949) - 2024 - 中期财报